企业ESG绩效对企业新质生产力的影响分析

Impacts of Industrial ESG Performances on New Productive Forces

摘要

新质生产力是推动我国经济高质量发展的根本动力。随着“双碳”战略目标与新一轮科技革命的深入推进，企业ESG绩效正逐步成为企业新质生产力转化的新引擎。如何通过提升企业ESG绩效以赋能新质生产力发展，已成为我国走向高质量发展道路的核心议题。以2010—2022年我国沪深A股上市公司为样本，通过筛选匹配、建立固定效应模型等分析方法，实证检验企业ESG绩效对企业新质生产力的影响，并选取企业收入和企业声誉作为机制变量，分析企业ESG绩效与企业新质生产力之间的作用机制。研究发现：1）企业ESG绩效能够显著促进新质生产力的提升，这一结论在经过一系列稳健性检验后依旧成立；2）企业ESG绩效对企业新质生产力的影响具有明显的行业异质性，在高科技企业和未来产业企业中表现得尤为显著；3）机制检验表明，企业ESG绩效主要通过增加企业收入与改善企业声誉的方式促进新质生产力发展。基于上述研究结论，提出如下建议：企业应将ESG理念融入企业实践以提升自身新质生产力，政府则应在完善政策监管的同时，结合企业差异化特征制定与其相匹配的激励机制，精准推进ESG建设。研究不仅丰富了企业改善ESG绩效以促进企业新质生产力发展的经验证据，还对我国充分释放企业新质生产力潜能，加快推进经济高质量发展进程提供有益的政策建议。

Abstract

New productive forces are the primary driver for China's quality economy. As “dual carbon” strategy and new technical revolution are advancing forward, enterprises' ESG performances are becoming a new engine for their new productive forces. How to fuel new productive forces through boosting enterprises' ESG performances has become a key topic for China's quality development. This paper, based on China's 2010 to 2022 A-listed companies data, uses matching and fixed effect model to validate the impacts of ESG performances on enterprises' new productive forces, and selects income and reputation as variables to analyze the mechanism between ESG performance and new productive forces. Enterprises' ESG performances can largely promote new productive forces, validated by robustness check. Enterprises' ESG performances are of heterogeneity on new their new productive forces, especially in high-tech and future industrial companies. Enterprises' ESG performances promote their new productive forces through increasing income and improving reputation. Enterprises should incorporate ESG concept into their operations to increase their new productive forces, Governments should make a matching stimulating mechanism to finely advance ESG construction combined with enterprises' differentiation while optimizing supervision. This paper promotes enterprises to improve their ESG performances to boost new productive forces, and provides suggestions on fully fulfilling enterprises' new productive forces potentials and accelerating quality economic development.

关键词

ESG绩效 / 新质生产力 / 高质量发展 / 未来产业

Key words

ESG performances / new productive forces / quality development / future industries

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